Nio $NIO+0.0% goes to the fusion!
Chinese electric vehicle manufacturer Nio has invested in Neo Fusion, a company developing fusion technology.
Neo Fusion is to research and develop technologies aimed at bringing controlled fusion to commercial use worldwide within two decades.
Financial data in the company's registration filing shows that the fusion company has a capital of CNY5 billion (USD723.37 million) and is 50% controlled by China's eastern Anhui province, a government-owned energy company.
Nio invested CNY995 million for a 19.9% stake, while Nio Capital, an investment company founded by Nio CEO William Li, invested CNY505 million for a 10.1% stake.